RBI submitted before a bench presided over by Chief Justice Dipak Misra that petitions have been filed in the Delhi and Calcutta high courts and they are “mushrooming” in various courts. It wanted all of them to be transferred and consolidated in the Supreme Court so that there could be one comprehensive judgment on the validity of virtual currency.
Several petitioners have moved the Supreme Court, some of them supporting the RBI ban, some challenging the ban and others seeking regulation of the virtual currency.
They argued that though bitcoin has not been expressly prohibited, RBI is telling the banks not to deal in it.
The government has set up a committee to look into the status of bitcoin and its report is expected within a few months.
Some petitioners and industries who deal in bitcoin wanted to explain their stand on the issue to the committee so that the currency can be regulated.
The court allowed them to approach the government.